View Filing Data

(11,598)

Derivative fair value adjustment

3,380

(14)

Issuance of 5,593,116 shares of common stock for acquisition of Filament, net of equity issuance costs (in shares)

$ (8,214)

5,593,116

5,593,000

Issuance of 5,593,116 shares of common stock for acquisition of Filament, net of equity issuance costs

$ 75,976

$ 56

75,920

Restricted shares issued to directors (in shares)

3,000

Net issuance of restricted shares to employees (in shares)

126,000

$ 1

(1)

Shares effectively repurchased for required employee withholding taxes (in shares)

838

(19,000)

Shares effectively repurchased for required employee withholding taxes

(258)

Ending Balance (in shares) at Mar. 31, 2018

^[1]

(880)

20,606,000

Balance at end of year at Mar. 31, 2018

277,741

$ 206

255,408

48,068

(25,941)

Beginning Balance (in shares) at Dec. 31, 2017

14,903,000

Balance at beginning of year at Dec. 31, 2017

210,279

$ 149

178,909

60,546

(29,325)

(17,655)

(277)

Ending Balance (in shares) at Jun. 30, 2018

(20,006)

20,741,000

Balance at end of year at Jun. 30, 2018

265,839

$ 207

256,182

41,126

(31,676)

Beginning Balance (in shares) at Mar. 31, 2018

20,606,000

Balance at beginning of year at Mar. 31, 2018

277,741

$ 206

255,408

48,068

(25,941)

(6,057)

Derivative fair value adjustment

(5,489)

(263)

(263)

Filament net equity issuance costs adjustment

(11,792)

(6)

Restricted shares issued to directors (in shares)

54,000

Net issuance of restricted shares to employees (in shares)

93,000

$ 1

(1)

Shares effectively repurchased for required employee withholding taxes (in shares)

921

(12,000)

Shares effectively repurchased for required employee withholding taxes

(140)

Ending Balance (in shares) at Jun. 30, 2018

^[1]

(885)

20,741,000

Balance at end of year at Jun. 30, 2018

265,839

$ 207

256,182

41,126

(31,676)

Beginning Balance (in shares) at Dec. 31, 2018

20,764,000

Balance at beginning of year at Dec. 31, 2018

279,493

$ 208

258,637

55,264

(34,616)

(4,867)

1,306

596

Net issuance of restricted shares to employees (in shares)

(2,952)

169,000

$ 1

(1)

Net exercise of stock options (in shares)

900

19,000

Shares effectively repurchased for required employee withholding taxes (in shares)

(25,000)

Shares effectively repurchased for required employee withholding taxes

(232)

Ending Balance (in shares) at Mar. 31, 2019

^[1]

(898)

20,927,000

Balance at end of year at Mar. 31, 2019

276,311

$ 209

259,304

49,499

(32,701)

Beginning Balance (in shares) at Dec. 31, 2018

20,764,000

Balance at beginning of year at Dec. 31, 2018

279,493

$ 208

258,637

55,264

(34,616)

(16,380)

1,578

Net exercise of stock options (in shares)

$ (16,424)

75,000

Ending Balance (in shares) at Jun. 30, 2019

21,255,000

Balance at end of year at Jun. 30, 2019

$ 263,104

$ 213

260,461

37,090

(34,660)

Beginning Balance (in shares) at Mar. 31, 2019

20,927,000

Balance at beginning of year at Mar. 31, 2019

276,311

$ 209

259,304

49,499

(32,701)

(11,513)

(2,953)

982

Restricted shares issued to directors (in shares)

(13,472)

61,000

Restricted shares issued to directors

$ 1

(1)

Net issuance of restricted shares to employees (in shares)

250,000

$ 3

(3)

Net exercise of stock options (in shares)

1,186

34,000

Net exercise of stock options

133

Shares effectively repurchased for required employee withholding taxes (in shares)

(17,000)

Shares effectively repurchased for required employee withholding taxes

(158)

Ending Balance (in shares) at Jun. 30, 2019

^[1]

(896)

21,255,000

Balance at end of year at Jun. 30, 2019

$ 263,104

$ 213

$ 260,461

$ 37,090

$ (34,660)

[1]	Cash dividends declared per share of common stock were $0.085 and $0.085 in the six months ended June 30, 2018 and 2019, respectively.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended	6 Months Ended
	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Stock Issued During Period, Shares, Acquisitions	5,593,116
Cash dividend declared per share		$ 0.085	$ 0.085

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
OPERATING ACTIVITIES
Net loss	$ (16,380)	$ (17,655)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	12,649	10,731
Amortization of financing costs	876	663
Deferred rent		368
Non-cash lease expense	1,156
Stock compensation expense	2,100	1,759
Undistributed equity in losses (earnings), net of taxes	185	(232)
Loss on early retirement of debt		66
SKU Rationalization	8,500
Changes in operating assets and liabilities (excluding the effects of business acquisitions):
Accounts receivable	34,184	41,441
Inventory	(40,900)	(39,555)
Prepaid expenses, other current assets and other assets	(1,568)	(185)
Accounts payable, accrued expenses and other liabilities	15,587	5,170
Income taxes receivable	(9,247)	(4,095)
Income taxes payable		(4,242)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	7,142	(5,766)
INVESTING ACTIVITIES
Purchases of property and equipment	(3,867)	(3,168)
Filament acquisition, net of cash acquired		(217,932)
NET CASH USED IN INVESTING ACTIVITIES	(3,867)	(221,100)
FINANCING ACTIVITIES
Proceeds from revolving credit facility	136,455	126,283
Repayments of revolving credit facility	(133,497)	(161,173)
Proceeds from term loan		275,000
Repayments of term loan	(1,375)	(688)
Proceeds from short term loan		79
Payments on short term loan		(71)
Payment of financing costs		(11,154)
Payment of equity issuance costs		(936)
Payments for capital leases	(12)	(24)
Payments of tax withholding for stock based compensation	(390)	(398)
Proceeds from exercise of stock options	133
Cash dividends paid	(1,786)	(1,535)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(472)	225,383
Effect of foreign exchange on cash	85	(118)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	2,888	(1,601)
Cash and cash equivalents at beginning of period	7,647	7,600
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 10,535	$ 5,999

BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2019

BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES

NOTE A — BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES

Organization and business

Lifetime Brands, Inc. (the “Company”) designs, sources and sells branded kitchenware, tableware and other products used in the home and markets its products under a number of brand names and trademarks, which are either owned or licensed by the Company, or through retailers’ private labels. The Company markets and sells its products principally on a wholesale basis to retailers. The Company also markets and sells a limited selection of its products directly to consumers through third parties and its own internet websites.

Basis of presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which consist only of normal recurring accruals, considered necessary for a fair presentation have been included. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (the “2018 Annual Report on Form 10-K”).

Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019.

The Company’s business and working capital needs are highly seasonal, with a majority of sales occurring in the third and fourth quarters. In 2018 and 2017, net sales for the third and fourth quarters accounted for 62% and 60% of total annual net sales, respectively. In anticipation of the pre-holiday shipping season, inventory levels increase primarily in the June through October time period.

Revenue recognition

The Company offers various sales incentives and promotional programs to its customers in the normal course of business. These incentives and promotions typically include arrangements such as cooperative advertising, buydowns, volume rebates and discounts. These arrangements and returns are reflected as reductions of revenue at the time of sale. See Note B – Revenue for additional information.

Cost of sales

Cost of sales consists primarily of costs associated with the production and procurement of products, inbound freight costs, purchasing costs, royalties, tooling, and other product procurement related charges.

Prior to January 1, 2019, depreciation associated with certain tooling used to produce products was classified as selling, general and administrative expenses. The amount recorded in cost of sales for the three and six months ended June 30, 2019 was $0.4 million and $0.7 million, respectively. The impact on the comparative periods presented is de minimis and therefore, the comparative periods have not been adjusted to reflect this change in accounting policy.

The Company implemented programs to improve the productivity of its inventory and simplify its U.S. business. In connection therewith, it initiated a stock keeping unit rationalization (“SKU Rationalization”) initiative to identify inventory to discontinue from active status, consistent with the objectives of these programs.

During the three months ended June 30, 2019, the Company recorded an $8.5 million charge to cost of sales associated with the SKU Rationalization initiative. The inventory affected represents approximately 8% of its consolidated inventory.

Distribution expenses

Distribution expenses consist primarily of warehousing expenses and freight-out expenses.

Accounts receivable

The Company periodically reviews the collectability of its accounts receivable and establishes allowances for estimated losses that could result from the inability of its customers to make required payments. A considerable amount of judgment is required to assess the ultimate potential realization of these receivables including assessing the initial and on-going creditworthiness of the Company’s customers.

The Company also maintains an allowance for anticipated customer deductions. The allowances for deductions are primarily based on contracts with customers. However, in certain cases, the Company does not have a formal contract and, therefore, customer deductions are non-contractual. To evaluate the reasonableness of non-contractual customer deductions, the Company analyzes currently available information and historical trends of deductions.

Receivable purchase agreement

The Company has an uncommitted Receivables Purchase Agreement with HSBC Bank USA, National Association (“HSBC”) as Purchaser (the “Receivables Purchase Agreement”). The sale of accounts receivable, under the Company’s Receivable Purchase Agreement with HSBC, is reflected as a reduction of accounts receivable in the Company’s condensed consolidated balance sheets at the time of sale and any related expense is included in selling, general and administrative expenses in the Company’s condensed consolidated statements of operations. Pursuant to this agreement, the Company sold to HSBC $24.1 million and $49.2 million of receivables during the three and six months ended June 30, 2019, respectively, and $19.1 million and $38.7 million of receivables during the three and six months ended June 30, 2018, respectively. Charges of $138,500 and $286,000 related to the sale of the receivables are included in selling, general and administrative expenses in the condensed consolidated statements of operations for the three and six months ended June 30, 2019, respectively. Charges of $99,000 and $189,000 related to the sale of receivables are included in selling, general and administrative expenses in the condensed consolidated statements of operations for the three and six months ended June 30, 2018, respectively.

Inventory

Inventory consists principally of finished goods sourced from third-party suppliers. Inventory also includes finished goods, work in process and raw materials related to the Company’s manufacture of sterling silver products. Inventory is priced using the lower of cost (first-in, first-out basis) or net realizable value. The Company estimates the selling price of its inventory on a product by product basis based on the current selling environment. If the estimated selling price is lower than the inventory’s cost, the Company reduces the value of the inventory to its net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation.

The components of inventory were as follows (in thousands):


	June 30,		December 31,
	2019		2018
Finished goods	$	197,310	$	165,969
Work in process		97		375
Raw materials		8,200		7,257

Total	$	205,607	$	173,601

Fair value of financial instruments

The Company determined that the carrying amounts of cash and cash equivalents, accounts receivable and accounts payable are reasonable estimates of their fair values because of their short-term nature. The Company determined that the carrying amounts of borrowings outstanding under its revolving credit facility, term loan and short term loan approximate fair value since such borrowings bear interest at variable market rates.

Derivatives

The Company accounts for derivative instruments in accordance with Accounting Standard Codification (“ASC”) Topic No. 815,

Derivatives and Hedging

. ASC Topic No. 815 requires that all derivative instruments be recognized on the balance sheet at fair value as either an asset or liability. Changes in the fair value of derivatives that qualify as hedges and have been designated as part of a hedging relationship for accounting purposes have no net impact on earnings until the hedged item is recognized in earnings. The change in the fair value of hedges is included in accumulated other comprehensive loss and subsequently recognized in the Company’s condensed consolidated statements of operations to mirror the location of the hedged items impacting earnings. Changes in the fair value of derivatives that do not qualify as hedging instruments for accounting purposes are recorded in the Company’s condensed statements of operations.

Goodwill, intangible assets and long-lived assets

Goodwill and intangible assets deemed to have indefinite lives are not amortized but, instead, are subject to an annual impairment assessment. Additionally, if events or conditions were to indicate the carrying value of a reporting unit may not be recoverable, the Company would evaluate goodwill and other intangible assets for impairment at that time. As it relates to the goodwill assessment, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the goodwill impairment testing described in Accounting Standards Update (“ASU”) Topic No. 350,

Intangibles – Goodwill and Other

. If, after assessing qualitative factors, the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the impairment test is unnecessary and the Company’s goodwill is considered to be unimpaired. However, if based on the Company’s qualitative assessment, it concludes that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, or if the Company elects to bypass the qualitative assessment, the Company will proceed with performing the quantitative impairment test. The quantitative impairment test compares the carrying value of each reporting unit that has goodwill with the estimated fair value of the respective reporting unit. Should the carrying value of a reporting unit be in excess of the estimated fair value of that reporting unit, an impairment charge will be recorded to reduce the reporting unit to fair value. The Company also evaluates qualitative factors to determine whether or not its indefinite lived intangibles have been impaired and then performs quantitative tests if required. These tests can include the relief from royalty model or other valuation models.

Long-lived assets, including intangible assets deemed to have finite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairment indicators include, among other conditions, cash flow deficits, historic or anticipated declines in revenue or operating profit or material adverse changes in the business climate that indicate that the carrying amount of an asset may be impaired. When impairment indicators are present, the recoverability of the asset is measured by comparing the carrying value of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the asset is considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the asset.

Leases

The Company determines if an arrangement is a lease at the inception of a contract. Operating lease right-of-use (“ROU”) assets are included in operating lease right-of-use assets on the condensed consolidated balance sheets. The current and long-term components of operating lease liabilities are included in the current portion of operating lease liability and operating lease liabilities, respectively, on the condensed consolidated balance sheets. Finance leases were not material to the Company’s condensed consolidated balance sheets.

Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The operating lease ROU asset may also include any lease payments made, adjusted for any prepaid or accrued rent payments, lease incentives, and initial direct costs incurred. Certain leases may include options to extend or terminate the lease. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term.

For certain equipment leases, the Company applies a portfolio approach to effectively account for any ROU assets and liabilities. Leases with an initial term of twelve months or less are not recorded on the balance sheet.

The Company has elected the practical expedient to account for each separate lease component of a contract and its associated non-lease components as a single lease component, thus causing all fixed payments to be capitalized.

Employee healthcare

The Company self-insures certain portions of its health insurance plans. The Company maintains an accrual for unpaid claims and estimated claims incurred but not yet reported (“IBNR”). Although management believes that it uses the best information available to estimate claims IBNR, actual claims may vary significantly from estimated claims.

Restructuring expenses

Costs associated with restructuring activities are recorded at fair value when a liability has been incurred. A liability has been incurred at the point of closure for any remaining operating lease obligations and at the communication date for severance.

In connection with the Company’s March 2018 acquisition of Filament, the Company commenced a restructuring plan to integrate the operations of Filament with the Company’s operations and realize the savings expected from the synergies of the acquisition. During the three and six months ended June 30, 2019, the Company incurred $0.1 million and $0.4 million, respectively, of Filament restructuring charges, primarily related to severance, of which $0.1 million was accrued at June 30, 2019. During the three and six months ended June 30, 2018, the Company incurred $0.4 million and $0.8 million, respectively, of Filament restructuring charges, primarily related to severance, of which $0.4 million was accrued at June 30, 2018.

During the three and six months ended June 30, 2019, the Company incurred $0.1 million and $0.4 million of restructuring expense, primarily related to severance, for the integration of its legal entities operating in Europe. In 2018, the Company finalized its integration plans for its European operations and took further steps to consolidate its operations. The Company will combine its physical locations in the U.K. in 2019 and expects to incur approximately $1.1 million of additional restructuring and integration charges in 2019. At June 30, 2019, $0.6 million of restructuring charges related to the European restructuring plan were accrued.

Adoption of new accounting pronouncements

Effective January 1, 2019, the Company adopted ASU 2016-02,

Leases (Topic 842)

(“ASC 842”)

which requires a lessee, in most leases, to initially recognize a lease liability for the obligation to make lease payments and an ROU asset for the right to use the underlying asset for the lease term. The Company adopted this standard using the cumulative-effect adjustment method and elected certain practical expedients allowed under the standard. Upon adoption, the Company recognized ROU assets and a lease liability of $90.9 million and $104.4 million, respectively. See Note D – Leases for additional information on the Company’s adoption of this standard.

Effective January 1, 2019, the Company adopted ASU 2018-02,

Income Statement- Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

, which addresses the effect on items within accumulated other comprehensive income (loss) of the change in the U.S. federal corporate tax rate due to the enactment of the Tax Cuts and Jobs Act (the “Tax Act”) on December 22, 2017. Upon adoption, the Company did not elect to reclassify the stranded income tax effects of the Tax Act from accumulated other comprehensive income (loss) to retained earnings.

REVENUE

6 Months Ended

Jun. 30, 2019

REVENUE

NOTE B —REVENUE

The Company sells products wholesale, to retailers and distributors, and retail, directly to the consumer. Wholesale sales and retail sales are recognized at the point in time the customer obtains control of the products in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products. To indicate the transfer of control, the Company must have a present right to payment, legal title must have passed to the customer, the customer must have the significant risks and rewards of ownership, and where acceptance is not a formality, the customer must have accepted the product or service. The Company’s principal terms of sale are Free On Board (“FOB”) Shipping Point, or equivalent, and, as such, the Company primarily transfers control and records revenue for product sales upon shipment. Sales arrangements with delivery terms that are not FOB Shipping Point are not recognized upon shipment and the transfer of control for revenue recognition is evaluated based on the associated shipping terms and customer obligations. Shipping and handling fees that are billed to customers in sales transactions are included in net sales and amounted to $0.6 million and $1.3 million for the three and six months ended June 30, 2019, respectively, and $0.8 million and $1.3 million for the three and six months ended June 30, 2018, respectively. Net sales exclude taxes that are collected from customers and remitted to the taxing authorities.

The Company offers various sales incentives and promotional programs to its wholesale customers from time to time in the normal course of business. These incentives and promotions typically include arrangements such as cooperative advertising, buydowns, volume rebates and discounts. These arrangements represent forms of variable consideration and an estimate of sales returns are reflected as reductions in net sales in the Company’s condensed consolidated statements of operations. These estimates are based on historical experience and other known factors or as the most likely amount in a range of possible outcomes. On a quarterly basis, variable consideration is assessed on a portfolio approach in estimating the extent to which the components of variable consideration are constrained.

Payment terms with customers vary by customer, but generally range from 30 to 90 days or at the point of sale for the Company’s retail direct sales. The Company incurs certain direct incremental costs to obtain contracts with customers, such as sales-related commissions, where the recognition period for the related revenue is less than one year. These costs are expensed as incurred and recorded within selling, general and administrative expenses in the condensed consolidated statements of operations. Incidental items that are immaterial in the context of the contract are expensed as incurred.

The following tables present the Company’s net sales disaggregated by segment, product category and geographic region for the three and six months ended June 30, 2019 (in thousands):


	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
U.S. Segment
Kitchenware	$	65,625	$	134,892
Tableware		28,759		55,211
Home Solutions		28,708		60,027

Total U.S.Segment		123,092		250,130

International Segment
Kitchenware		12,376		26,512
Tableware		7,068		15,820

Total International Segment		19,444		42,332

Total net sales	$	142,536	$	292,462

United States	$	116,683	$	238,092
United Kingdom		14,775		30,712
Rest of World		11,078		23,658

Total net sales	$	142,536	$	292,462

ACQUISITION

6 Months Ended

Jun. 30, 2019

ACQUISITION

NOTE C —ACQUISITION

On December 22, 2017, the Company entered into an agreement providing for the acquisition of Filament by the Company. The acquisition was completed on March 2, 2018. The aggregate consideration for Filament, after taking into account certain adjustments, was $294.4 million, consisting of $217.5 million of cash consideration and 5,593,116 newly issued shares of the Company’s common stock, with a value equal to $76.9 million based on the market value of the Company’s common stock as of March 2, 2018.

The purchase price was allocated based on the Company’s final estimate of the fair value of the assets acquired and liabilities assumed, as follows (in thousands):


Accounts receivable	$	26,224
Inventory		29,044
Other assets		5,620
Other liabilities		(23,018	)
Deferred income tax		(13,881	)
Goodwill and other intangibles		270,427

Total allocated value	$	294,416

Goodwill results from such factors as an assembled workforce. The total amount of goodwill is not expected to be deductible for tax purposes. The goodwill and other intangible assets are primarily included in the U.S. segment. Customer relationships are amortized on a straight-line basis over their estimated useful lives (see Note F – Intangible Assets).

The three and six months ended June 30, 2018 included the operations of Filament for the period from March 2, 2018, the date of acquisition, to June 30, 2018. The condensed consolidated statements of operations for the three months ended June 30, 2018 include $29.3 million of net sales and $0.4 million of net loss from operations contributed by Filament. The condensed consolidated statements of operations for the six months ended June 30, 2018, include $38.6 million of net sales and $1.5 million of net loss from operations contributed by Filament.

Unaudited Pro forma Results

The following table presents the Company’s pro forma consolidated net sales, loss before income taxes and equity in earnings and net loss for the three and six months ended June 30, 2018. The unaudited pro forma results include the historical statements of operations information of the Company and of Filament, giving effect to the Filament acquisition and related financing as if they had occurred at the beginning of the periods presented.


	Three Months Ended			Six Months Ended
	June 30, 2018			June 30, 2018
	(in thousands, except per share data)
Net sales	$	148,651		$	292,631
Loss before income taxes and equity in earnings		(6,694	)		(22,904	)
Net loss		(5,092	)		(17,235	)
Basic and diluted loss per common share		(0.25	)		(0.85	)

The unaudited pro forma results do not include any revenue or cost reductions that may be achieved through the business combination or the impact of non-recurring items directly related to the business combination.

The unaudited pro forma results are not necessarily indicative of the operating results that would have occurred if the Filament acquisition had been completed as of the date for which the pro forma financial information is presented. In addition, the unaudited pro forma results do not purport to project the future condensed consolidated operating results of the combined company.

LEASES

6 Months Ended

Jun. 30, 2019

LEASES

NOTE D — LEASES

The Company adopted ASC 842 as of January 1, 2019, using the cumulative effective adjustment method wherein the Company applied the new leases standard at the adoption date. Accordingly, all periods prior to January 1, 2019 were presented in accordance with the previous ASC Topic 840 –

Leases

, and no retrospective adjustments were made to the comparative periods presented. Adoption of ASC 842 resulted in an increase to total assets and liabilities due to the recording of operating lease ROU assets and operating lease liabilities of approximately $90.9 million and $104.4 million, respectively, as of January 1, 2019. Finance leases are not material to the Company and were not impacted by the adoption of ASC 842, as finance lease liabilities and the corresponding assets were already recorded in the balance sheet under the previous guidance, ASC 840. The adoption did not materially impact the Company’s condensed consolidated statements of operations or cash flows.

The Company has operating leases for corporate offices, distribution facilities, manufacturing plants, and certain vehicles. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company has elected the practical expedient to account for each separate lease component of a contract and its associated non-lease components as a single lease component, thus causing all fixed payments to be capitalized. The Company also elected the package of practical expedients permitted within the new standard, which among other things, allows the Company to carry forward historical lease classification. Variable lease payment amounts that cannot be determined at the commencement of the lease, such as increases in lease payments based on changes in index rates or usage, are not included in the ROU assets or liabilities. These are expensed as incurred and recorded as variable lease expense.

ROU assets represent the Company’s right to use an underlying asset during the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the commencement date based on the net present value of fixed lease payments over the lease term. The Company’s lease term includes options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. ROU assets also include any advance lease payments. As most of the Company’s operating leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.

The components of lease costs for the three and six months ended June 30, 2019 were as follows (in thousands):


	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Operating lease costs:
Fixed	$	4,907	$	9,131

Total	$	4,907	$	9,131

Supplemental cash flow information for the three and six months ended June 30, 2019 was as follows (in thousands):


	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	4,295	$	7,975

Total	$	4,295	$	7,975


	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	20,991	$	115,488

Total	$	20,991	$	115,488

The aggregate future lease payments for operating leases as of June 30, 2019 were as follows (in thousands):


	Operating
2019 (excluding the six months ending June 30, 2019)	$	9,952
2020		17,461
2021		17,102
2022		17,178
2023		17,343
Thereafter		88,825

Total lease payments		167,861
Less: Interest		(42,068	)

Present value of lease liabilities	$	125,793

Average lease terms and discount rates were as follows:


	June 30, 2019
Weighted-average remaining lease term (years)
Operating leases		9.6
Weighted-average discount rate
Operating leases		6.2	%

INVESTMENTS

6 Months Ended

Jun. 30, 2019

INVESTMENTS

NOTE E —INVESTMENTS

The Company owns approximately a 30% interest in Grupo Vasconia S.A.B. (“Vasconia”), an integrated manufacturer of aluminum products and one of Mexico’s largest housewares companies. Shares of Vasconia’s capital stock are traded on the Bolsa Mexicana de Valores, the Mexican Stock Exchange. The Quotation Key is VASCONI. The Company accounts for its investment in Vasconia using the equity method of accounting and records its proportionate share of Vasconia’s net income in the Company’s condensed consolidated statements of operations. Accordingly, the Company has recorded its proportionate share of Vasconia’s net income (reduced for amortization expense related to the customer relationships acquired) for the three and six months ended June 30, 2019 and 2018 in the accompanying condensed consolidated statements of operations. The value of the Company’s investment balance has been translated from Mexican Pesos (“MXN”) to U.S. Dollars (“USD”) using the spot rates of MXN 19.19 and MXN 19.64 at June 30, 2019 and December 31, 2018, respectively. The Company’s proportionate share of Vasconia’s net income has been translated from MXN to USD using the average exchange rates of MXN 19.11 and MXN 19.38 during the three months ended June 30, 2019 and 2018, respectively, and MXN 19.11 to MXN 19.24 and MXN 18.71 to MXN 19.38 during the six months ended June 30, 2019 and 2018, respectively. The effect of the translation of the Company’s investment resulted in a decrease to the investment of $1.5 million during the six months ended June 30, 2019 and a decrease to the investment of $1.1 million during the six months ended 2018. These translation effects are recorded in accumulated other comprehensive loss. Included within prepaid expenses and other current assets at June 30, 2019 and December 31, 2018 are amounts due from Vasconia of $159,000 and $95,000, respectively. Included within accrued expenses and accounts payable at June 30, 2019 and December 31, 2018 are amounts due to Vasconia of $68,000 and $0, respectively.

Summarized statement of income information for Vasconia in USD and MXN is as follows (in thousands):


	Three Months Ended
	June 30,
	2019						2018
	USD			MXN			USD		MXN
Net sales	$	37,040		$	707,837		$	48,061	$	931,329
Gross profit		9,291			177,552			9,986		193,517
Income from operations		2,805			53,601			3,655		70,827
Net (Loss) Income		(178	)		(3,407	)		2,457		47,621

	Six Months Ended
	June 30,
	2019						2018
	USD			MXN			USD		MXN
Net Sales	$	78,534		$	1,506,175		$	87,630	$	1,671,735
Gross Profit		17,229			330,273			17,105		326,724
Income from operations		4,698			90,027			4,804		92,330
Net (Loss) Income		(511	)		(9,813	)		2,095		40,845

The Company recorded equity in (losses) earnings of Vasconia, net of taxes, of $(69,000) and $(185,000) for the three and six months ended June 30, 2019, respectively. The Company recorded equity in (losses) earnings of Vasconia, net of taxes, of $155,000 and $232,000 for the three and six months ended June 30, 2018, respectively. Equity in (losses) earnings for the three and six months ended June 30, 2018 includes deferred tax expense of $(501,000) and $(306,000), respectively, due to the requirement to record tax benefits for foreign currency translation gains and losses through other comprehensive loss, with a corresponding adjustment to deferred tax liabilities.

As of June 30, 2019 and December 31, 2018, the fair value (based upon Vasconia’s quoted stock price) of the Company’s investment in Vasconia was $34.2 million and $31.9 million, respectively. The carrying value of the Company’s investment in Vasconia was $20.9 million and $22.6 million as of June 30, 2019 and December 31, 2018, respectively.

INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2019

INTANGIBLE ASSETS

NOTE F — INTANGIBLE ASSETS

Intangible assets consist of the following (in thousands):


	June 30, 2019							December 31, 2018
			Accumulated										Accumulated
	Gross		Amortization			Net		Gross		Impairment			Amortization			Net
Goodwill	$	92,637	$	—		$	92,637	$	93,895	$	(2,205	)	$	—		$	91,690
Indefinite-lived intangible assets:
Trade names		58,216		—			58,216		58,216		—			—			58,216
Finite-lived intangible assets:
Licenses		15,847		(10,059	)		5,788		15,847		—			(9,825	)		6,022
Trade names		43,559		(15,545	)		28,014		43,689		—			(13,965	)		29,724
Customer relationships		175,396		(33,691	)		141,705		175,482		—			(27,538	)		147,944
Other		6,508		(1,554	)		4,954		6,510		—			(1,259	)		5,251

Total	$	392,163	$	(60,849	)	$	331,314	$	393,639	$	(2,205	)	$	(52,587	)	$	338,847

DEBT

6 Months Ended

Jun. 30, 2019

DEBT

NOTE G — DEBT

The Company’s credit agreement (the “ABL Agreement”) with JPMorgan Chase Bank, N.A. (“JPMorgan”), includes a senior secured asset-based revolving credit facility in the maximum aggregate principal amount of $150.0 million, which facility will mature on March 2, 2023, and a loan agreement (the “Term Loan” and together with the ABL Agreement, the “Debt Agreements”) provides for a senior secured term loan credit facility in the original principal amount of $275.0 million, which will mature on February 28, 2025. The Term Loan facility will be repaid in quarterly payments, which commenced June 30, 2018, of principal equal to 0.25% of the original aggregate principal amount of the Term Loan facility. The Term Loan requires the Company to make an annual prepayment of principal based upon excess cash flow (the “Excess Cash Flow”), if any. Based upon its current estimate of Excess Cash Flow, as defined, to be generated in calendar year 2019, the Company expects to prepay approximately $12.0 million of principal in the first quarter of 2020. Accordingly, this estimated amount is recorded in the current maturity of term loan on the condensed consolidated balance sheets. The maximum borrowing amount under the ABL Agreement may be increased to up to $200.0 million if certain conditions are met. One or more tranches of additional term loans (the “Incremental Facilities”) may be added under the Term Loan if certain conditions are met. The Incremental Facilities may not exceed the sum of (i) $50.0 million plus (ii) an unlimited amount so long as, in the case of (ii) only, the Company’s secured net leverage ratio, as defined in and computed pursuant to the Term Loan, is no greater than 3.75 to 1.00, subject to certain limitations and for the period defined pursuant to the Term Loan.

At June 30, 2019 and December 31, 2018, borrowings outstanding under the ABL Agreement were $44.9 million and $42.1 million, respectively, and open letters of credit were $3.2 million and $3.4 million, respectively. At June 30, 2019, availability under the ABL Agreement was approximately $101.9 million. Availability under the ABL Agreement depends on the valuation of certain current assets comprising the borrowing base. Due to the seasonality of the Company’s business, this may mean that the Company will have greater borrowing availability during the third and fourth quarters of each year. The borrowing capacity under the ABL Agreement will depend, in part, on eligible levels of accounts receivable and inventory that fluctuate regularly. Consequently, the $150.0 million commitment thereunder may not represent actual borrowing capacity.

At June 30, 2019 and December 31, 2018, $271.6 million and $272.9 million, respectively, was outstanding under the Term Loan. At June 30, 2019, unamortized debt issuance costs of $1.5 million and $6.8 million offset the short-term and long-term outstanding balances, respectively, of the Term Loan.

The Company’s payment obligations under its Debt Agreements are unconditionally guaranteed by its existing and future U.S. subsidiaries with certain minor exceptions. Certain payment obligations under the ABL Agreement are also direct obligations of its foreign subsidiary borrowers designated as such under the ABL Agreement and, subject to limitations on such guaranty, are guaranteed by the foreign subsidiary borrowers, as well as by the Company. The obligations of the Company under the Debt Agreements and any hedging arrangements and cash management services and the guarantees by its domestic subsidiaries in respect of those obligations are secured by substantially all of the assets and stock (but in the case of foreign subsidiaries, limited to 65% of the capital stock in first-tier foreign subsidiaries and not including the stock of subsidiaries of such first-tier foreign subsidiaries) owned by the Company and the U.S. subsidiary guarantors, subject to certain exceptions. Such security interest consists of (1) a first-priority lien, subject to certain permitted liens, with respect to certain assets of the Company and its domestic subsidiaries (the “ABL Collateral”) pledged as collateral in favor of lenders under the ABL Agreement and a second-priority lien in the ABL Collateral in favor of the lenders under the Term Loan and (2) a first-priority lien, subject to certain permitted liens, with respect to certain assets of the Company and its domestic subsidiaries (the “Term Loan Collateral”) pledged as collateral in favor of lenders under the Term Loan and a second-priority lien in the Term Loan Collateral in favor of the lenders under the ABL Agreement.

Borrowings under the revolving credit facility bear interest, at the Company’s option, at one of the following rates: (i) alternate base rate, defined, for any day, as the greater of the prime rate, a federal funds and overnight bank funding based rate plus 0.5% or one-month LIBOR plus 1.0%, plus a margin of 0.25% to 0.75%, or (ii) LIBOR plus a margin of 1.25% to 1.75%. The respective margins are based upon the Company’s total leverage ratio, as defined in and computed pursuant to the ABL Agreement. Interest rates on outstanding borrowings under the ABL Agreement at June 30, 2019 ranged from 2.4% to 6.25%. In addition, the Company paid a commitment fee that ranged from 0.250% to 0.375% on the unused portion of the ABL Agreement during the six months ended June 30, 2019.

The term loan facility bears interest, at the Company’s option, at one of the following rates: (i) alternate base rate, defined, for any day, as the greater of the prime rate, a federal funds and overnight bank funding based rate plus 0.5% or one-month LIBOR plus 1.0%, plus a margin of 2.50% or (ii) LIBOR plus a margin of 3.50%. The interest rate on outstanding borrowings under the Term Loan at June 30, 2019 was 5.9%.

The Debt Agreements provide for customary restrictions and events of default. Restrictions include limitations on additional indebtedness, acquisitions, investments and payment of dividends, among other things. Further, the ABL Agreement provides that during any period (a) commencing on the last day of the most recently ended four consecutive fiscal quarters on or prior to the date availability under the ABL Agreement is less than the greater of $15.0 million and 10% of the aggregate commitment under the ABL Agreement at any time and (b) ending on the day after such availability has exceeded the greater of $15.0 million and 10% of the aggregate commitment under the ABL Agreement for forty-five (45) consecutive days, the Company is required to maintain a minimum fixed charge coverage ratio of 1.10 to 1.00 as of the last day of any period of four consecutive fiscal quarters.

The Company was in compliance with the covenants of the Debt Agreements at June 30, 2019.

DERIVATIVES

6 Months Ended

Jun. 30, 2019

DERIVATIVES

NOTE H

—

DERIVATIVES

The Company is a party to interest rate swap agreements with an aggregate notional value of $100.0 million at June 30, 2019. The Company designated the interest rate swaps as cash flow hedges of the Company’s exposure to the variability of the payment of interest on a portion of its Term Loan borrowings. The hedge periods of these agreements commenced in April 2018 and expire in March 2023. The notional amounts are reduced over these periods. In June 2019, the Company entered into new interest rate swap agreements, with an aggregate notional value of $25.0 million at June 30, 2019. These non-designated interest rate swaps serve as cash flow hedges of the Company’s exposure to the variability of the payment of interest on a portion of its Term Loan borrowings and expire in February 2025.

The Company is exposed to market risks as well as changes in foreign currency exchange rates as measured against the USD and each other, and changes to credit risk of derivative counterparties. The Company attempts to minimize these risks by primarily using foreign currency forward contracts and by maintaining counterparty credit limits. These hedging activities provide only limited protection against currency exchange and credit risk. Factors that could influence the effectiveness of the Company’s hedging programs include currency markets and availability of hedging instruments and liquidity of the credit markets. All foreign currency forward contracts that the Company enters into are components of hedging programs and are entered into for the sole purpose of hedging an existing or anticipated currency exposure. The Company does not enter into such contracts for speculative purposes and currently does not have any foreign currency forward contract derivatives that are not designated as hedges.

Fluctuations in the value of certain foreign currencies as compared to the USD may positively or negatively affect the Company’s revenues, gross margins, operating expenses, and retained earnings, all of which are expressed in USD. Where the Company deems it prudent, the Company engages in hedging programs using foreign currency forward contracts aimed at limiting the impact of foreign currency exchange rate fluctuations on earnings. The Company purchases short-term (i.e. 12 months or less) foreign currency forward contracts to protect against currency exchange risks associated with the payment of merchandise purchases to foreign suppliers. The Company does not hedge the translation of foreign currency profits into USD, as the Company regards this as an accounting exposure rather than an economic exposure. The aggregate gross notional values of foreign exchange contracts at June 30, 2019 was $9.0 million. These foreign exchange contracts have been designated as hedges in to order to apply hedge accounting.

The fair values of the Company’s derivative financial instruments included in the condensed consolidated balance sheets are presented as follows (in thousands):


Derivatives designated as hedging instruments	Balance Sheet Location	June 30, 2019		December 31, 2018
Interest rate swaps	Prepaid Expenses	$	460	$	42
	Other Assets		1,372		157
Foreign exchange contracts	Prepaid Expenses		370		—

Derivatives not designated as hedging instruments	Balance Sheet Location	June 30, 2019		December 31, 2018
Interest rate swaps	Other Assets	$	350	$	—

The fair values of the derivatives have been obtained from the counterparties to the agreements and were based on Level 2 observable inputs using proprietary models and estimates about relevant future market conditions.

The counterparties to the derivative financial instruments are major international financial institutions. The Company is exposed to credit risk for the net exchanges under these agreements, but not for the notional amounts. The Company does not anticipate non-performance by any of its counterparties.

The amounts of gains and (losses) related to the Company’s derivative financial instruments designated as hedging instruments are recognized in other comprehensive loss, net of taxes, as follows (in thousands):


	Three Months Ended					Six Months Ended
	June 30,					June 30,
Derivatives designated as hedging instruments	2019		2018			2019		2018
Interest rate swaps, net of taxes	$	748	$	(263	)	$	1,224	$	(277	)
Foreign exchange contracts, net of taxes		234		—			354		—

	$	982	$	(263	)	$	1,578	$	(277	)

Gains or losses on the interest rate swaps, designated as hedges, will be reclassified into earnings as interest expense as the interest on the debt is recognized. During the three and six months ended June 30, 2019 and June 30, 2018, the Company recognized $0.1 million and $0.2 million of interest expense related to the interest rate swaps, respectively.

Gains or losses on the foreign exchange contracts will be reclassified into cost of sales as the hedged merchandise purchases are sold. The amount recorded as a gain in cost of sales for the three and six months ended June 30, 2019 was $0.1 million.

The amounts of the gains and (losses) related to the Company’s derivative financial instruments not designated as hedging instruments that were recognized in earnings are as follows (in thousands):


		Three Months Ended				Six Months Ended
		June 30,				June 30,
Derivatives not designated as hedging instruments	Location of gain (loss)	2019		2018		2019		2018
Interest rate swaps	Interest expense	$	350		—	$	350		—
Foreign exchange contracts	Selling, general and administrative expense		—	$	1,468		—	$	(47	)

STOCK COMPENSATION

6 Months Ended

Jun. 30, 2019

STOCK COMPENSATION

NOTE I

—

STOCK COMPENSATION

Option Awards

A summary of the Company’s stock option activity and related information for the six months ended June 30, 2019 is as follows:


	Options			Weighted- average exercise price		Weighted- average remaining contractual life (years)		Aggregate intrinsic value
Options outstanding, January 1, 2019		1,548,825		$	13.87
Grants		296,500			9.21
Exercises		(75,000	)		4.28
Cancellations		(6,750	)		13.34
Expirations		(68,125	)		15.57

Options outstanding, June 30, 2019		1,695,450			13.41		4.9	$	87,425

Options exercisable, June 30, 2019		1,212,172		$	14.27		3.1	$	87,425

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value that would have been received by the option holders had all option holders exercised their stock options on June 30, 2019. The intrinsic value is calculated for each in-the-money stock option as the difference between the closing price of the Company’s common stock on June 30, 2019 and the exercise price.

Total unrecognized stock option compensation expense at June 30, 2019, before the effect of income taxes, was $1.7 million and is expected to be recognized over a weighted-average period of 1.8 years.

Restricted Stock

A summary of the Company’s restricted stock activity and related information for the six months ended June 30, 2019 is as follows:


	Restricted Shares			Weighted- average grant date fair value
Non-vested restricted shares, January 1, 2019		326,545		$	14.63
Grants		437,997			9.26
Vested		(145,049	)		14.49
Cancellations		(24,362	)		13.99

Non-vested restricted shares, June 30, 2019		595,131		$	10.74

Total unrecognized compensation expense remaining	$	5,904,000
Weighted-average years expected to be recognized over		1.8

The fair value of restricted stock that vested during the six months ended June 30, 2019 was $1.4 million.

Performance shares

Each performance award represents the right to receive up to 150% of the target number of shares of common stock. The number of shares of common stock earned will be determined based on the attainment of specified performance goals, as determined by the Compensation Committee, by the end of the performance period. The shares are subject to the terms and conditions of the Company’s Amended and Restated 2000 Long Term Incentive Plan (the “Plan”).

A summary of the Company’s performance-based award activity and related information for the six months ended June 30, 2019 is as follows:


	Performance- based stock awards (1)			Weighted- average grant date fair value
Non-vested performance-based awards, January 1, 2019		339,287		$	14.82
Grants		156,775			9.21
Vested		(66,761	)		15.69
Cancellations		(25,767	)		15.46

Non-vested performance-based awards, June 30, 2019		403,534		$	12.45

Total unrecognized compensation expense remaining	$	3,037,000
Weighted-average years expected to be recognized over		1.9

(1)	Represents the target number of shares to be issued for each performance-based award.

The total fair value of performance-based awards that vested during the six months ended June 30, 2019 was $0.6 million.

The Company recognized total stock compensation expense of $1.2 million for the three months ended June 30, 2019, of which $0.1 million represents stock option compensation expense and $1.1 million represents restricted stock and performance-based stock compensation expense. For the six months ended June 30, 2019, the Company recognized total stock compensation expense of $2.1 million, of which $0.3 million represents stock option compensation expense and $1.8 million represents restricted stock and performance-based stock compensation expense. The Company recognized total stock compensation expense of $0.9 million for the three months ended June 30, 2018, of which $0.2 million represents stock option compensation expense and $0.7 million represents restricted stock and performance-based stock compensation expense. For the six months ended June 30, 2018, the Company recognized total stock compensation expense of $1.8 million, of which $0.4 million represents stock option compensation expense and $1.4 million represents restricted stock and performance-based stock compensation expense.

At June 30, 2019, there were 152,342 shares available for awards that could be granted under the Plan, assuming maximum performance of performance-based awards.

LOSS PER COMMON SHARE

6 Months Ended

Jun. 30, 2019

LOSS PER COMMON SHARE

NOTE J —LOSS PER COMMON SHARE

Basic loss per common share has been computed by dividing net loss by the weighted-average number of shares of the Company’s common stock outstanding during the relevant period. Diluted loss per common share adjusts net loss and basic loss per common share for the effect of all potentially dilutive shares of the Company’s common stock. The calculations of basic and diluted loss per common share for the three and six months ended June 30, 2019 and 2018 are as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
	(in thousands, except per share amounts)
Net loss– basic and diluted	$	(11,513	)	$	(6,057	)	$	(16,380	)	$	(17,655	)
Weighted-average shares outstanding – basic and diluted		20,545			20,327			20,527			18,474
Basic and diluted loss per common share	$	(0.56	)	$	(0.30	)	$	(0.80	)	$	(0.96	)

The computation of diluted loss per common share for the three and six months ended June 30, 2019 excludes 2,147,690 shares and 1,882,113 shares, respectively, related to options to purchase shares and other stock awards. The computation of diluted loss per common share for the three and six months ended June 30, 2018 excludes 1,990,536 shares and 1,938,124 shares, respectively, related to options to purchase shares and other stock awards. These shares were excluded due to their antidilutive effects.

INCOME TAXES

6 Months Ended

Jun. 30, 2019

INCOME TAXES

NOTE K— INCOME TAXES

Income tax benefit of $5.8 million and $8.3 million for the three and six months ended June 30 2019, respectively, represent taxes on both U.S. and foreign earnings at combined effective income tax benefit rates of 33.6% and 33.8%, respectively. The effective rates for the three and six months ended June 30, 2019 differs from the federal statutory rate of 21% primarily due to state and local taxes and the impact of non-deductible expenses.

Income tax benefit of $1.8 million and $5.6 million for the three and six months ended June 30, 2018, respectively, represent taxes on both U.S. and foreign earnings at a combined effective income tax benefit rate of 22.1% and 23.8%, respectively. The effective rates for the three and six months ended June 30, 2018 reflects the reduced U.S. corporate income tax rate, partially offset by non-deductible expenses.

The Company has identified the following jurisdictions as “major” tax jurisdictions: U.S. Federal, California, Massachusetts, New York, New Jersey, Illinois, Georgia and the United Kingdom. The Company’s 2015 U.S. Federal income tax return and New York State tax returns for years 2014-2016 remain under audit with no proposed adjustments as of June 30, 2019.

The Company evaluates its tax positions on a quarterly basis and revises its estimates accordingly. There were no material changes to the Company’s uncertain tax positions, interest, or penalties during the three-month periods ended June 30, 2019 and June 30, 2018.

BUSINESS SEGMENTS

6 Months Ended

Jun. 30, 2019

BUSINESS SEGMENTS

NOTE L – BUSINESS SEGMENTS

The Company has two reportable segments, U.S. and International. Prior to October 1, 2018, the U.S. segment was reported as two separate reportable segments, U.S. Wholesale and Retail Direct. The Company changed its reporting structure as of October 1, 2018 to reflect how the Company is managing its operations as well as what the chief operating decision maker reviews to make organizational decisions about resource allocations. Prior period segment information has been recast to reflect the current reportable segment structure of the Company.

The Company has segmented its operations to reflect the manner in which management reviews and evaluates the results of its operations. The U.S. segment includes the Company’s primary domestic business that designs, markets and distributes its products to retailers, distributors and its internet websites. The International segment consists of certain business operations conducted outside the U.S. Management evaluates the performance of the U.S. and International segments based on net sales and loss from operations. Such measures give recognition to specifically identifiable operating costs such as cost of sales, distribution expenses and selling, general and administrative expenses. Certain general and administrative expenses, such as senior executive salaries and benefits, stock compensation, director fees, and accounting, legal and consulting fees, are not allocated to the specific segments and are reflected as unallocated corporate expenses.

The Company implemented its SKU Rationalization initiative to improve the productivity of its inventory and simplify its U.S. business. During the three months ended June 30, 2019, the Company recorded an $8.5 million charge to cost of sales associated with the SKU Rationalization initiative, which negatively impacted loss from operations for the U.S. segment.


	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
	(in thousands)
Net sales
U.S.	$	123,092		$	128,985		$	250,130		$	224,892
International		19,444			19,666			42,332			41,928

Total net sales	$	142,536		$	148,651		$	292,462		$	266,820

Loss from operations
U.S.	$	(4,678	)	$	1,968		$	(292	)	$	(3,572	)
International		(2,868	)		(204	)		(3,915	)		(3,424	)
Unallocated corporate expenses		(4,999	)		(5,065	)		(10,625	)		(9,621	)

Loss from operations	$	(12,545	)	$	(3,301	)	$	(14,832	)	$	(16,617	)

Depreciation and amortization
U.S.	$	5,210		$	5,292		$	10,481		$	8,439
International		1,080			1,130			2,168			2,292

Total depreciation and amortization	$	6,290		$	6,422		$	12,649		$	10,731


	June 30,		December 31,
	2019		2018
	(in thousands)
Assets
U.S.	$	684,229	$	604,532
International		117,295		94,210
Unallocated corporate		21,177		9,830

Total Assets	$	822,701	$	708,572

CONTINGENCIES

6 Months Ended

Jun. 30, 2019

CONTINGENCIES

NOTE M

—

CONTINGENCIES

Wallace Silversmiths de Puerto Rico, Ltd. (“WSPR”), a wholly-owned subsidiary of the Company, operates a manufacturing facility in San Germán, Puerto Rico that is leased from the Puerto Rico Industrial Development Company (“PRIDCO”). In March 2008, the United States Environmental Protection Agency (the “EPA”) announced that the San Germán Ground Water Contamination site in Puerto Rico (the “Site”) had been added to the Superfund National Priorities List.

On August 13, 2015, the EPA released its remedial investigation and feasibility study (“RI/FS”) for the Site. On December 11, 2015, the EPA issued the Record of Decision (“ROD”) for an initial operable unit, electing to implement its preferred remedy, which consists of soil vapor extraction and dual-phase extraction/

in-situ

treatment. This selected remedy includes soil vapor extraction (“SVE”) to address soil (vadose zone) source areas at the Site, impermeable cover as necessary for the implementation of SVE, dual phase extraction in the shallow saprolite zone, and

in-situ

treatment as needed to address residual sources. The EPA’s estimated capital cost for its selected remedy is $7.3 million. In February 2017, the EPA indicated that it planned to expand its field investigation for the RI/FS to a second operable unit to further determine the nature and extent of the groundwater damage at and from the Site and to determine the nature of the remedial action needed. The EPA requested access to the property occupied by WSPR to install monitoring wells and to undertake groundwater sampling as part of this expanded investigation. WSPR consented to the EPA’s access request, subject to PRIDCO’s consent, as the property owner.

In December 2018, the Company, WSPR, and other identified Potentially Responsible Parties affiliated with the Site entered into tolling agreements to extend the statute of limitations for potential claims for the recovery of response costs for the initial operable unit under Section 107 of CERCLA. The tolling agreements do not constitute in any way an admission or acknowledgment of any fact, conclusion of law or liability by the parties to the agreements.

On July 19, 2019, WSPR’s counsel received an email from the US Department of Justice attorney representing the EPA with respect to the Site providing, as a courtesy, information relating to a public meeting to be held on July 30, 2019, in San German concerning the EPA’s proposed plan for a second operable unit. The EPA is accepting public comments on the proposed remedy, which is estimated to cost $17.3 million and includes in situ treatment and monitored nature attenuation of groundwater. The public comment period lasts for 30 days and ends on August 11, 2019. However, any member of the public can request a mandatory 30 day extension.

WSPR never used the primary constituents of concern and did not take up its tenancy at the Site until after EPA had discovered the damage to the local water supply. EPA has also issued notices of potential liability to numerous other entities affiliated with the Site, which used the constituents of concern. Accordingly, based on the above uncertainties and variables, it is not possible at this time for the Company to estimate its share of liability, if any, related to this matter. However, in the event of one or more definitive claims because of property damage asserted against the Company and adverse determinations related to this matter, it is possible that the ultimate liability resulting from this matter and the impact on the Company’s results of operations could be material.

The Company is, from time to time, involved in other legal proceedings. The Company believes that other current litigation is routine in nature and incidental to the conduct of the Company’s business and that none of this litigation, individually or collectively, would have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

OTHER

6 Months Ended

Jun. 30, 2019

OTHER

NOTE N

—

OTHER

Cash dividends

Dividends declared in the six months ended June 30, 2019 were as follows:


Dividend per share	Date declared	Date of record	Payment date
$0.0425	March 12, 2019	May 1, 2019	May 15, 2019
$0.0425	June 27, 2019	August 1, 2019	August 15, 2019

On February 15, 2019 and May 15, 2019, the Company paid dividends of $0.9 million and $0.9 million to shareholders of record on February 1, 2019 and May 1, 2019, respectively. In the six months ended June 30, 2019, the Company reduced retained earnings for the accrual of $0.9 million relating to the dividend payable on August 15, 2019.

On August 6, 2019, the Board of Directors declared a quarterly dividend of $0.0425 per share payable on November 15, 2019 to shareholders of record on November 1, 2019.

Supplemental cash flow information


	Six Months Ended June 30,
	2019			2018
	(in thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest	$	9,066		$	5,614
Cash paid for taxes		993			2,763
Non-cash investing activities:
Translation loss adjustment	$	(1,647	)	$	(2,109	)

Components of accumulated other comprehensive loss, net


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
	(in thousands)
Accumulated translation adjustment:
Balance at beginning of period	$	(32,421	)	$	(24,441	)	$	(33,727	)	$	(27,821	)
Translation loss during period		(2,953	)		(5,489	)		(1,647	)		(2,109	)

Balance at end of period	$	(35,374	)	$	(29,930	)	$	(35,374	)	$	(29,930	)

Accumulated deferred gains (losses) on cash flow hedges:
Balance at beginning of period	$	757		$	—		$	161		$	14
Amounts reclassified from accumulated other comprehensive loss:
Settlement of cash flow hedge		(52	)		—			(23	)		(14	)
Change in unrealized gains (losses)		1,034			(263	)		1,601			(263	)

Net change in cash flow hedges, net of taxes of $306, $88, $495, and $88		982			(263	)		1,578			(277	)

Balance at end of period	$	1,739		$	(263	)	$	1,739		$	(263	)

Accumulated effect of retirement benefit obligations:
Balance at beginning of period	$	(1,037	)	$	(1,500	)	$	(1,050	)	$	(1,518	)
Amounts reclassified from accumulated other comprehensive loss: (1)
Amortization of actuarial losses, net of taxes		12			17			25			35

Balance at end of period	$	(1,025	)	$	(1,483	)	$	(1,025	)	$	(1,483	)

Total accumulated other comprehensive loss at end of period	$	(34,660	)	$	(31,676	)	$	(34,660	)	$	(31,676	)

(1)	Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.

BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2019

Basis of presentation

Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019.

Revenue recognition

Cost of sales

Distribution expenses

Distribution expenses consist primarily of warehousing expenses and freight-out expenses.

Accounts receivable

Receivable purchase agreement

Inventory

The components of inventory were as follows (in thousands):


	June 30,		December 31,
	2019		2018
Finished goods	$	197,310	$	165,969
Work in process		97		375
Raw materials		8,200		7,257

Total	$	205,607	$	173,601

Fair value of financial instruments

Derivatives

The Company accounts for derivative instruments in accordance with Accounting Standard Codification (“ASC”) Topic No. 815,

Derivatives and Hedging

Goodwill, intangible assets and long-lived assets

Intangibles – Goodwill and Other

Leases

Employee healthcare

Restructuring expenses

Adoption of new accounting pronouncements

Effective January 1, 2019, the Company adopted ASU 2016-02,

Leases (Topic 842)

(“ASC 842”)

Effective January 1, 2019, the Company adopted ASU 2018-02,

Income Statement- Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2019

Components of Inventory

The components of inventory were as follows (in thousands):


	June 30,		December 31,
	2019		2018
Finished goods	$	197,310	$	165,969
Work in process		97		375
Raw materials		8,200		7,257

Total	$	205,607	$	173,601

REVENUE (Tables)

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Summary of Company's Revenue Disaggregated by Geographic Region and Revenue

The following tables present the Company’s net sales disaggregated by segment, product category and geographic region for the three and six months ended June 30, 2019 (in thousands):


	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
U.S. Segment
Kitchenware	$	65,625	$	134,892
Tableware		28,759		55,211
Home Solutions		28,708		60,027

Total U.S.Segment		123,092		250,130

International Segment
Kitchenware		12,376		26,512
Tableware		7,068		15,820

Total International Segment		19,444		42,332

Total net sales	$	142,536	$	292,462

United States	$	116,683	$	238,092
United Kingdom		14,775		30,712
Rest of World		11,078		23,658

Total net sales	$	142,536	$	292,462

ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Purchase Price Allocated Based on Estimated Fair Value of Assets and Liabilities

The purchase price was allocated based on the Company’s final estimate of the fair value of the assets acquired and liabilities assumed, as follows (in thousands):


Accounts receivable	$	26,224
Inventory		29,044
Other assets		5,620
Other liabilities		(23,018	)
Deferred income tax		(13,881	)
Goodwill and other intangibles		270,427

Total allocated value	$	294,416

Summary of Pro Forma Consolidated Net Sales and Income (Loss) Before Income Taxes and Equity in Earnings


	Three Months Ended			Six Months Ended
	June 30, 2018			June 30, 2018
	(in thousands, except per share data)
Net sales	$	148,651		$	292,631
Loss before income taxes and equity in earnings		(6,694	)		(22,904	)
Net loss		(5,092	)		(17,235	)
Basic and diluted loss per common share		(0.25	)		(0.85	)

LEASES (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Schedule of components of lease costs

The components of lease costs for the three and six months ended June 30, 2019 were as follows (in thousands):


	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Operating lease costs:
Fixed	$	4,907	$	9,131

Total	$	4,907	$	9,131

Schedule of supplemental cash flow information related to leases

Supplemental cash flow information for the three and six months ended June 30, 2019 was as follows (in thousands):


	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	4,295	$	7,975

Total	$	4,295	$	7,975


	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	20,991	$	115,488

Total	$	20,991	$	115,488

Aggregate future lease payments for operating and finance leases

The aggregate future lease payments for operating leases as of June 30, 2019 were as follows (in thousands):


	Operating
2019 (excluding the six months ending June 30, 2019)	$	9,952
2020		17,461
2021		17,102
2022		17,178
2023		17,343
Thereafter		88,825

Total lease payments		167,861
Less: Interest		(42,068	)

Present value of lease liabilities	$	125,793

Schedule of average lease terms and discount rates

Average lease terms and discount rates were as follows:


	June 30, 2019
Weighted-average remaining lease term (years)
Operating leases		9.6
Weighted-average discount rate
Operating leases		6.2	%

INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2019

Summarized Income Statement Information for Vasconia in USD and MXN

Summarized statement of income information for Vasconia in USD and MXN is as follows (in thousands):


	Three Months Ended
	June 30,
	2019						2018
	USD			MXN			USD		MXN
Net sales	$	37,040		$	707,837		$	48,061	$	931,329
Gross profit		9,291			177,552			9,986		193,517
Income from operations		2,805			53,601			3,655		70,827
Net (Loss) Income		(178	)		(3,407	)		2,457		47,621

	Six Months Ended
	June 30,
	2019						2018
	USD			MXN			USD		MXN
Net Sales	$	78,534		$	1,506,175		$	87,630	$	1,671,735
Gross Profit		17,229			330,273			17,105		326,724
Income from operations		4,698			90,027			4,804		92,330
Net (Loss) Income		(511	)		(9,813	)		2,095		40,845

INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2019

Components of Intangible Assets Included in Wholesale Segment

Intangible assets consist of the following (in thousands):


	June 30, 2019							December 31, 2018
			Accumulated										Accumulated
	Gross		Amortization			Net		Gross		Impairment			Amortization			Net
Goodwill	$	92,637	$	—		$	92,637	$	93,895	$	(2,205	)	$	—		$	91,690
Indefinite-lived intangible assets:
Trade names		58,216		—			58,216		58,216		—			—			58,216
Finite-lived intangible assets:
Licenses		15,847		(10,059	)		5,788		15,847		—			(9,825	)		6,022
Trade names		43,559		(15,545	)		28,014		43,689		—			(13,965	)		29,724
Customer relationships		175,396		(33,691	)		141,705		175,482		—			(27,538	)		147,944
Other		6,508		(1,554	)		4,954		6,510		—			(1,259	)		5,251

Total	$	392,163	$	(60,849	)	$	331,314	$	393,639	$	(2,205	)	$	(52,587	)	$	338,847

DERIVATIVES (Tables)

6 Months Ended

Jun. 30, 2019

Fair Values of Derivative Financial Instruments Included in Unaudited Condensed Consolidated Balance Sheets

The fair values of the Company’s derivative financial instruments included in the condensed consolidated balance sheets are presented as follows (in thousands):


Derivatives designated as hedging instruments	Balance Sheet Location	June 30, 2019		December 31, 2018
Interest rate swaps	Prepaid Expenses	$	460	$	42
	Other Assets		1,372		157
Foreign exchange contracts	Prepaid Expenses		370		—

Derivatives not designated as hedging instruments	Balance Sheet Location	June 30, 2019		December 31, 2018
Interest rate swaps	Other Assets	$	350	$	—

Gains and Losses Related to Derivative Financial Instruments Designated as Hedging Instruments


	Three Months Ended					Six Months Ended
	June 30,					June 30,
Derivatives designated as hedging instruments	2019		2018			2019		2018
Interest rate swaps, net of taxes	$	748	$	(263	)	$	1,224	$	(277	)
Foreign exchange contracts, net of taxes		234		—			354		—

	$	982	$	(263	)	$	1,578	$	(277	)

Gains and Losses Related to Derivative Financial Instruments Not Designated as Hedging Instruments

The amounts of the gains and (losses) related to the Company’s derivative financial instruments not designated as hedging instruments that were recognized in earnings are as follows (in thousands):


		Three Months Ended				Six Months Ended
		June 30,				June 30,
Derivatives not designated as hedging instruments	Location of gain (loss)	2019		2018		2019		2018
Interest rate swaps	Interest expense	$	350		—	$	350		—
Foreign exchange contracts	Selling, general and administrative expense		—	$	1,468		—	$	(47	)

STOCK COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information for the six months ended June 30, 2019 is as follows:


	Options			Weighted- average exercise price		Weighted- average remaining contractual life (years)		Aggregate intrinsic value
Options outstanding, January 1, 2019		1,548,825		$	13.87
Grants		296,500			9.21
Exercises		(75,000	)		4.28
Cancellations		(6,750	)		13.34
Expirations		(68,125	)		15.57

Options outstanding, June 30, 2019		1,695,450			13.41		4.9	$	87,425

Options exercisable, June 30, 2019		1,212,172		$	14.27		3.1	$	87,425

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity and related information for the six months ended June 30, 2019 is as follows:


	Restricted Shares			Weighted- average grant date fair value
Non-vested restricted shares, January 1, 2019		326,545		$	14.63
Grants		437,997			9.26
Vested		(145,049	)		14.49
Cancellations		(24,362	)		13.99

Non-vested restricted shares, June 30, 2019		595,131		$	10.74

Total unrecognized compensation expense remaining	$	5,904,000
Weighted-average years expected to be recognized over		1.8

Summary of Performance-based Award Activity

A summary of the Company’s performance-based award activity and related information for the six months ended June 30, 2019 is as follows:


	Performance- based stock awards (1)			Weighted- average grant date fair value
Non-vested performance-based awards, January 1, 2019		339,287		$	14.82
Grants		156,775			9.21
Vested		(66,761	)		15.69
Cancellations		(25,767	)		15.46

Non-vested performance-based awards, June 30, 2019		403,534		$	12.45

Total unrecognized compensation expense remaining	$	3,037,000
Weighted-average years expected to be recognized over		1.9

(1)	Represents the target number of shares to be issued for each performance-based award.

LOSS PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2019

Calculations of Basic and Diluted Income per Common Share

The calculations of basic and diluted loss per common share for the three and six months ended June 30, 2019 and 2018 are as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
	(in thousands, except per share amounts)
Net loss– basic and diluted	$	(11,513	)	$	(6,057	)	$	(16,380	)	$	(17,655	)
Weighted-average shares outstanding – basic and diluted		20,545			20,327			20,527			18,474
Basic and diluted loss per common share	$	(0.56	)	$	(0.30	)	$	(0.80	)	$	(0.96	)

BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting Information


	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
	(in thousands)
Net sales
U.S.	$	123,092		$	128,985		$	250,130		$	224,892
International		19,444			19,666			42,332			41,928

Total net sales	$	142,536		$	148,651		$	292,462		$	266,820

Loss from operations
U.S.	$	(4,678	)	$	1,968		$	(292	)	$	(3,572	)
International		(2,868	)		(204	)		(3,915	)		(3,424	)
Unallocated corporate expenses		(4,999	)		(5,065	)		(10,625	)		(9,621	)

Loss from operations	$	(12,545	)	$	(3,301	)	$	(14,832	)	$	(16,617	)

Depreciation and amortization
U.S.	$	5,210		$	5,292		$	10,481		$	8,439
International		1,080			1,130			2,168			2,292

Total depreciation and amortization	$	6,290		$	6,422		$	12,649		$	10,731


	June 30,		December 31,
	2019		2018
	(in thousands)
Assets
U.S.	$	684,229	$	604,532
International		117,295		94,210
Unallocated corporate		21,177		9,830

Total Assets	$	822,701	$	708,572

OTHER (Tables)

6 Months Ended

Jun. 30, 2019

Cash Dividends Declared

Dividends declared in the six months ended June 30, 2019 were as follows:


Dividend per share	Date declared	Date of record	Payment date
$0.0425	March 12, 2019	May 1, 2019	May 15, 2019
$0.0425	June 27, 2019	August 1, 2019	August 15, 2019

Supplemental Cash Flow Information

Supplemental cash flow information


	Six Months Ended June 30,
	2019			2018
	(in thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest	$	9,066		$	5,614
Cash paid for taxes		993			2,763
Non-cash investing activities:
Translation loss adjustment	$	(1,647	)	$	(2,109	)

Components of Accumulated Other Comprehensive Loss, Net

Components of accumulated other comprehensive loss, net


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
	(in thousands)
Accumulated translation adjustment:
Balance at beginning of period	$	(32,421	)	$	(24,441	)	$	(33,727	)	$	(27,821	)
Translation loss during period		(2,953	)		(5,489	)		(1,647	)		(2,109	)

Balance at end of period	$	(35,374	)	$	(29,930	)	$	(35,374	)	$	(29,930	)

Accumulated deferred gains (losses) on cash flow hedges:
Balance at beginning of period	$	757		$	—		$	161		$	14
Amounts reclassified from accumulated other comprehensive loss:
Settlement of cash flow hedge		(52	)		—			(23	)		(14	)
Change in unrealized gains (losses)		1,034			(263	)		1,601			(263	)

Net change in cash flow hedges, net of taxes of $306, $88, $495, and $88		982			(263	)		1,578			(277	)

Balance at end of period	$	1,739		$	(263	)	$	1,739		$	(263	)

Accumulated effect of retirement benefit obligations:
Balance at beginning of period	$	(1,037	)	$	(1,500	)	$	(1,050	)	$	(1,518	)
Amounts reclassified from accumulated other comprehensive loss: (1)
Amortization of actuarial losses, net of taxes		12			17			25			35

Balance at end of period	$	(1,025	)	$	(1,483	)	$	(1,025	)	$	(1,483	)

Total accumulated other comprehensive loss at end of period	$	(34,660	)	$	(31,676	)	$	(34,660	)	$	(31,676	)

(1)	Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.

Basis of Presentation and Summary of Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Schedule Of Significant Accounting Policies [Line Items]
Restructuring expenses	$ 173,000	$ 395,000	$ 781,000	$ 801,000
Percentage of total annual net sales in the third and fourth quarters					62.00%	60.00%
Inventory Effected Percentage	8.00%
Operating Lease, Right-of-Use Asset	$ 109,757,000		109,757,000
Operating Lease, Liability	125,793,000		125,793,000
Cost of depreciation	400,000		700,000
Cost of sales	98,517,000	96,573,000	194,122,000	169,655,000
Restructuring Charges [Member]
Schedule Of Significant Accounting Policies [Line Items]
Restructuring expenses			600,000
Additional Restructuring and Integration Charges [Member]
Schedule Of Significant Accounting Policies [Line Items]
Restructuring expenses			1,100,000
Receivables Purchase Agreement [Member]
Schedule Of Significant Accounting Policies [Line Items]
Sale of receivables	24,100,000	19,100,000	49,200,000	38,700,000
Receivables Purchase Agreement [Member] \| Selling, general and administrative expenses
Schedule Of Significant Accounting Policies [Line Items]
Charge related to sale of receivables	138,500	99,000	286,000	189,000
Stock Keeping Unit Rationalization Program [Member]
Schedule Of Significant Accounting Policies [Line Items]
Cost of sales	8,500,000
Accounting Standards Update 2016-02 [Member]
Schedule Of Significant Accounting Policies [Line Items]
Operating Lease, Right-of-Use Asset							$ 90,900,000
Operating Lease, Liability							$ 104,400,000
Employee severance
Schedule Of Significant Accounting Policies [Line Items]
Restructuring expenses	100,000	400,000	400,000	800,000
Restructuring reserve	$ 100,000	$ 400,000	$ 100,000	$ 400,000

Components of Inventory (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory [Line Items]
Finished goods	$ 197,310	$ 165,969
Work in process	97	375
Raw materials	8,200	7,257
Total	$ 205,607	$ 173,601

Revenue - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Shipping and handling revenue	$ 142,536	$ 148,651	$ 292,462	$ 266,820
Shipping and Handling [Member]
Disaggregation of Revenue [Line Items]
Shipping and handling revenue	$ 600	$ 800	$ 1,300	$ 1,300

Summary of Company's Revenue Disaggregated by Geographic Region and Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Net Sales	$ 142,536	$ 148,651	$ 292,462	$ 266,820
United States
Disaggregation of Revenue [Line Items]
Net Sales	116,683		238,092
United Kingdom
Disaggregation of Revenue [Line Items]
Net Sales	14,775		30,712
Rest of World
Disaggregation of Revenue [Line Items]
Net Sales	11,078		23,658
U.S. segment
Disaggregation of Revenue [Line Items]
Net Sales	123,092		250,130
U.S. segment \| Kitchenware
Disaggregation of Revenue [Line Items]
Net Sales	65,625		134,892
U.S. segment \| Tableware
Disaggregation of Revenue [Line Items]
Net Sales	28,759		55,211
U.S. segment \| Home Solutions
Disaggregation of Revenue [Line Items]
Net Sales	28,708		60,027
International Segment
Disaggregation of Revenue [Line Items]
Net Sales	19,444		42,332
International Segment \| Kitchenware
Disaggregation of Revenue [Line Items]
Net Sales	12,376		26,512
International Segment \| Tableware
Disaggregation of Revenue [Line Items]
Net Sales	$ 7,068		$ 15,820

Acquisitions - Additional Information (Detail) - Filament - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Mar. 02, 2018	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Business Acquisition [Line Items]
Business acquisition cash paid	$ 217.5
Net sales		$ 29.3		$ 38.6
Business Acquisition, Effective Date of Acquisition			Mar. 02, 2018
Business Acquisition, Date of Acquisition Agreement			Dec. 22, 2017
Aggregate acquisition agreement amount	$ 294.4
Business acquisition, equity interest issued or issuable, number of shares	5,593,116
Business combination, consideration transferred, equity interests issued and issuable	$ 76.9
Net Income loss		$ 0.4		$ 1.5

Summary of Purchase Price Allocated Based on Estimated Fair Value of Assets and Liabilities (Detail) - Filament $ in Thousands	Mar. 02, 2018 USD ($)
Business Acquisition [Line Items]
Accounts receivable	$ 26,224
Inventory	29,044
Other assets	5,620
Other liabilities	(23,018)
Deferred income tax	(13,881)
Goodwill and other intangibles	270,427
Total allocated value	$ 294,416

Summary of Pro Forma Consolidated Net Sales and Income (Loss) Before Income Taxes and Equity in Earnings (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Business Acquisition [Line Items]
Basic and diluted loss per common share	$ (0.56)	$ (0.30)	$ (0.80)	$ (0.96)
Filament
Business Acquisition [Line Items]
Net sales		$ 148,651		$ 292,631
Loss before income taxes and equity in earnings		(6,694)		(22,904)
Net loss		$ (5,092)		$ (17,235)
Basic and diluted loss per common share		$ (0.25)		$ (0.85)

Leases - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019
Operating Lease Right-of-Use-Assets	$ 109,757
Operating lease liability	$ 125,793
Accounting Standards Update 2016-02 [Member]
Operating Lease Right-of-Use-Assets		$ 90,900
Operating lease liability		$ 104,400

Lease Cost (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Lease Cost (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2019
Operating lease costs:
Fixed	$ 4,907	$ 9,131
Total	$ 4,907	$ 9,131

Supplemental Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 4,295	$ 7,975
Total	4,295	7,975
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	20,991	115,488
Total	$ 20,991	$ 115,488

Maturities of Operating Lease Liability (Detail) $ in Thousands	Jun. 30, 2019 USD ($)
2019 (excluding the six months ending June 30, 2019)	$ 9,952
2020	17,461
2021	17,102
2022	17,178
2023	17,343
Thereafter	88,825
Total lease payments	167,861
Less: Interest	(42,068)
Present value of lease liabilities	$ 125,793

Average Lease Terms And Discount Rates (Detail)	Jun. 30, 2019
Weighted-average remaining lease term (years) Operating leases	9 years 7 months 6 days
Weighted-average discount rate Operating leases	6.20%

Investments - Additional Information (Detail)	3 Months Ended		6 Months Ended
Investments - Additional Information (Detail)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity in earnings (losses), net of taxes	$ (69,000)	$ 155,000	$ (185,000)	$ 232,000
Grupo Vasconia S.A.B.
Schedule of Equity Method Investments [Line Items]
Percentage of ownership in equity method investment	30.00%		30.00%
Exchange rate at period end - MXN to USD	19.19		19.19		19.64
Increase (Decrease) in equity method investment			$ 1,500,000	1,100,000
Equity in earnings (losses), net of taxes		155,000		232,000
Equity in earnings, deferred taxes expense		$ (501,000)		$ (306,000)
Fair value of investment	$ 34,200,000		34,200,000		$ 31,900,000
Carrying value of investment	20,900,000		20,900,000		22,600,000
Grupo Vasconia S.A.B. \| Prepaid expenses and other current assets
Schedule of Equity Method Investments [Line Items]
Due from related party	159,000		159,000		95,000
Grupo Vasconia S.A.B. \| Accounts payable and accrued expenses
Schedule of Equity Method Investments [Line Items]
Due to related party	$ 68,000		$ 68,000		$ 0
Grupo Vasconia S.A.B. \| Transaction 02
Schedule of Equity Method Investments [Line Items]
Average daily exchange rate for period - MXN to USD	19.11	19.38
Grupo Vasconia S.A.B. \| Transaction 03 \| Minimum
Schedule of Equity Method Investments [Line Items]
Average daily exchange rate for period - MXN to USD			19.11
Grupo Vasconia S.A.B. \| Transaction 03 \| Maximum
Schedule of Equity Method Investments [Line Items]
Average daily exchange rate for period - MXN to USD			19.24
Grupo Vasconia S.A.B. \| Transaction 04 \| Minimum
Schedule of Equity Method Investments [Line Items]
Average daily exchange rate for period - MXN to USD				18.71
Grupo Vasconia S.A.B. \| Transaction 04 \| Maximum
Schedule of Equity Method Investments [Line Items]
Average daily exchange rate for period - MXN to USD				19.38

Summarized Statement of Income Information for Vasconia in USD and MXN (Detail) - Grupo Vasconia S.A.B. $ in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2019 MXN ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2018 MXN ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2019 MXN ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2018 MXN ($)
Income Statement [Abstract]
Net sales	$ 37,040	$ 707,837	$ 48,061	$ 931,329	$ 78,534	$ 1,506,175	$ 87,630	$ 1,671,735
Gross profit	9,291	177,552	9,986	193,517	17,229	330,273	17,105	326,724
Income from operations	2,805	53,601	3,655	70,827	4,698	90,027	4,804	92,330
Net (Loss) Income	$ (178)	$ (3,407)	$ 2,457	$ 47,621	$ (511)	$ (9,813)	$ 2,095	$ 40,845

Components of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Schedule of Intangible Assets Disclosure [Line Items]
Goodwill, Gross	$ 92,637	$ 93,895
Goodwill, Accumulated Impairment		(2,205)
Goodwill, Net	92,637	91,690
Intangible Assets Gross	392,163	393,639
Goodwill, Accumulated Impairment		(2,205)
Intangible Assets, Net (Including Goodwill)	331,314	338,847
Finite-Lived Intangible Assets, Accumulated Amortization	(60,849)	(52,587)
License
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	15,847	15,847
Finite-Lived Intangible Assets, Net	5,788	6,022
Finite-Lived Intangible Assets, Accumulated Amortization	(10,059)	(9,825)
Trade Names
Schedule of Intangible Assets Disclosure [Line Items]
Indefinite-Lived Trade Names, Gross	58,216	58,216
Indefinite-Lived Trade Names, Net	58,216	58,216
Finite-Lived Intangible Assets, Gross	43,559	43,689
Finite-Lived Intangible Assets, Net	28,014	29,724
Finite-Lived Intangible Assets, Accumulated Amortization	(15,545)	(13,965)
Customer Relationships
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	175,396	175,482
Finite-Lived Intangible Assets, Net	141,705	147,944
Finite-Lived Intangible Assets, Accumulated Amortization	(33,691)	(27,538)
Other
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	6,508	6,510
Finite-Lived Intangible Assets, Net	4,954	5,251
Finite-Lived Intangible Assets, Accumulated Amortization	$ (1,554)	$ (1,259)

Debt - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Jun. 30, 2019	Dec. 31, 2018	Mar. 02, 2018
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 150.0
Outstanding borrowing under credit facility		271.6	$ 272.9
Unamortized debt issuance costs- long term		$ 6.8
Interest rates on outstanding borrowings		5.90%
Minimum availability under revolving credit to maintain minimum fixed charge ratio for four consecutive months		$ 15.0
Debt instrument, quarterly repayment percentage of principal		0.25%
Maximum Debt Instrument Leverage Ratio		3.75
Debt instrument, basis spread on variable rate		1.00%
Line of credit facility, description		The Incremental Facilities may not exceed the sum of (i) $50.0 million plus (ii) an unlimited amount so long as, in the case of (ii) only, the Company’s secured net leverage ratio, as defined in and computed pursuant to the Term Loan, is no greater than 3.75 to 1.00 subject to certain limitations and for the period defined pursuant to the Term Loan.
Line of credit facility description		The term loan facility bears interest, at the Company’s option, at one of the following rates: (i) alternate base rate, defined, for any day, as the greater of the prime rate, a federal funds and overnight bank funding based rate plus 0.5% or one-month LIBOR plus 1.0%, plus a margin of 2.50% or (ii) LIBOR plus a margin of 3.50%.
Unamortized debt issuance costs- short term		$ 1.5
Scenario, Forecast [Member]
Debt Instrument [Line Items]
Early repayment of subordinated debt	$ 12.0
ABL Credit Agreement
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		150.0
Outstanding borrowing under credit facility		44.9	42.1
Open letters of credit		3.2	$ 3.4
Availability under revolving credit facility		$ 101.9
Credit facility, maximum borrowing capacity terms		The borrowing capacity under the ABL Agreement will depend, in part, on eligible levels of accounts receivable and inventory that fluctuate regularly. Consequently, the $150.0 million commitment thereunder may not represent actual borrowing capacity.
Line of credit facility description		Borrowings under the revolving credit facility bear interest, at the Company’s option, at one of the following rates: (i) alternate base rate, defined, for any day, as the greater of the prime rate, a federal funds and overnight bank funding based rate plus 0.5% or one-month LIBOR plus 1.0%, plus a margin of 0.25% to 0.75%, or (ii) LIBOR plus a margin of 1.25% to 1.75%. The respective margins are based upon the Company’s total leverage ratio, as defined in and computed pursuant to the ABL Agreement.
Debt Agreements
Debt Instrument [Line Items]
Percentage of capital stock of foreign subsidiaries pledged as collateral		65.00%
Credit facility terms		The Debt Agreements provide for customary restrictions and events of default. Restrictions include limitations on additional indebtedness, acquisitions, investments and payment of dividends, among other things. Further, the ABL Agreement provides that during any period (a) commencing on the last day of the most recently ended four consecutive fiscal quarters on or prior to the date availability under the ABL Agreement is less than the greater of $15.0 million and 10% of the aggregate commitment under the ABL Agreement at any time and (b) ending on the day after such availability has exceeded the greater of $15.0 million and 10% of the aggregate commitment under the ABL Agreement for forty-five (45) consecutive days, the Company is required to maintain a minimum fixed charge coverage ratio of 1.10 to 1.00 as of the last day of any period of four consecutive fiscal quarters.
Commitment Fee Percentage		10.00%
Term Loan
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 275.0
Term Loan \| One-month LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.00%
Term Loan \| Alternate Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.50%
Term Loan \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3.50%
Term Loan \| Prime rate, federal funds and overnight bank funding based rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
Minimum
Debt Instrument [Line Items]
Percentage of line of credit facility unused capacity commitment fee		0.25%
Maximum
Debt Instrument [Line Items]
Percentage of line of credit facility unused capacity commitment fee		0.375%
Revolving Credit Facility \| Minimum \| ABL Credit Agreement
Debt Instrument [Line Items]
Interest rates on outstanding borrowings		2.40%
Revolving Credit Facility \| Minimum \| ABL Credit Agreement \| Alternate Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.25%
Revolving Credit Facility \| Minimum \| ABL Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.25%
Revolving Credit Facility \| Maximum \| ABL Credit Agreement
Debt Instrument [Line Items]
Interest rates on outstanding borrowings		6.25%
Revolving Credit Facility \| Maximum \| ABL Credit Agreement \| Alternate Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.75%
Revolving Credit Facility \| Maximum \| ABL Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
Senior Secured Asset Based Revolving Credit Facilities \| ABL Credit Agreement
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity if certain conditions are met		$ 200.0
Increase in line of credit facility		$ 50.0

Derivatives - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative [Line Items]
Commencement date			2018-04
Expiration date			Mar. 30, 2023
Interest rate swap interest expenses	$ 4,694	$ 4,676	$ 9,616	$ 6,779
Cost of Goods and Services Sold	98,517	96,573	194,122	169,655
Foreign exchange contract [Member]
Derivative [Line Items]
Cost of Goods and Services Sold	100		100
Interest Rate Swap
Derivative [Line Items]
Interest rate swap interest expenses	100	$ 200	100	$ 200
Designated as Hedging Instrument \| Cash Flow Hedging \| Interest Rate Contract
Derivative [Line Items]
Notional amount	100,000		100,000
Designated as Hedging Instrument \| Cash Flow Hedging \| Interest Rate Swap
Derivative [Line Items]
Notional amount	25,000		25,000
Not Designated as Hedging Instrument \| Foreign exchange contract [Member]
Derivative [Line Items]
Notional amount	$ 9,000		$ 9,000

Fair Values of Derivative Financial Instruments Included in Consolidated Balance Sheets (Detail) - Fair Value, Observable inputs, Level 2 - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Designated as Hedging Instrument \| Interest Rate Contract \| Prepaid expenses
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	$ 460	$ 42
Designated as Hedging Instrument \| Interest Rate Contract \| Other assets
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	1,372	$ 157
Designated as Hedging Instrument \| Foreign exchange contract [Member] \| Prepaid expenses
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	370
Not Designated as Hedging Instrument \| Interest Rate Contract \| Other assets
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	$ 350

Gains and Losses Related to Derivative Financial Instruments Designated as Hedging Instruments (Detail) - Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in OCI	$ 982	$ (263)	$ 1,578	$ (277)
Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in OCI	748	$ (263)	1,224	$ (277)
Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in OCI	$ 234		$ 354

Gains and Losses Related to Derivative Financial Instruments Not Designated as Hedging Instruments (Detail) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivative	$ 350		$ 350
Foreign exchange contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivative		$ 1,468		$ (47)

Stock Compensation - Additional Information (Detail) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2019

Jun. 30, 2018

Jun. 30, 2019

Jun. 30, 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized stock option compensation cost

$ 1,700

Stock compensation expense, stock option

1,200

$ 900

2,100

$ 1,759

100

200

300

400

Stock compensation expense, Performance based and restricted share

$ 1,100

$ 700

$ 1,800

$ 1,400

Stock Options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted-average recognition period

1 year 9 months 18 days

Fair value of time-based restricted stock

$ 1,400

Performance Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted-average recognition period

^[1]

1 year 10 months 24 days

Total fair value of performance-based awards, vested

$ 600

Number of shares range percentage

150.00%

Performance Shares | Amended and Restated Long Term Incentive Plan Two Thousand

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares available for grant

152,342

[1]	Represents the target number of shares to be issued for each performance-based award.

Summary of Stock Option (Detail) - USD ($)	6 Months Ended
Summary of Stock Option (Detail) - USD ($)	Jun. 30, 2019
Options
Beginning balance \| shares	1,548,825
Grants \| shares	296,500
Exercises \| shares	(75,000)
Cancellations \| shares	(6,750)
Expirations \| shares	(68,125)
Ending balance \| shares	1,695,450
Options exercisable at End of Period \| shares	1,212,172
Weighted-average exercise price
Beginning balance \| $ / shares	$ 13.87
Grants \| $ / shares	9.21
Exercises \| $ / shares	4.28
Cancellations \| $ / shares	13.34
Expirations \| $ / shares	15.57
Ending balance \| $ / shares	13.41
Options exercisable at End of Period \| $ / shares	$ 14.27
Weighted-average remaining contractual life (years)
Options outstanding, Ending balance	4 years 10 months 24 days
Options exercisable, Ending balance	3 years 1 month 6 days
Aggregate intrinsic value
Options outstanding, end of period \| $	$ 87,425
Options exercisable, end of period \| $	$ 87,425

Summary of Restricted Stock Activity (Detail) - Restricted Stock	6 Months Ended
	Jun. 30, 2019 USD ($) $ / shares shares
Number of shares
Beginning balance \| shares	326,545
Grants \| shares	437,997
Vested \| shares	(145,049)
Cancellations \| shares	(24,362)
Ending balance \| shares	595,131
Total unrecognized compensation expense remaining \| $	$ 5,904,000
Weighted-average years expected to be recognized over	1 year 9 months 18 days
Weighted- average grant date fair value
Beginning balance \| $ / shares	$ 14.63
Grants \| $ / shares	9.26
Vested \| $ / shares	14.49
Cancellations \| $ / shares	13.99
Ending balance \| $ / shares	$ 10.74

Summary of Performance-based Award Activity (Detail) - Performance Shares

6 Months Ended

Jun. 30, 2019

USD ($)

$ / shares

Number of shares

Beginning balance | shares

339,287

^[1]

Grants | shares

156,775

^[1]

Vested | shares

(66,761)

^[1]

Cancellations | shares

(25,767)

^[1]

Ending balance | shares

403,534

^[1]

Total unrecognized compensation expense remaining | $

$ 3,037,000

^[1]

Weighted-average years expected to be recognized over

1 year 10 months 24 days

^[1]

Weighted-average grant date fair value

Beginning balance | $ / shares

$ 14.82

Grants | $ / shares

9.21

Vested | $ / shares

15.69

Cancellations | $ / shares

15.46

Ending balance | $ / shares

$ 12.45

[1]	Represents the target number of shares to be issued for each performance-based award.

Calculations of Basic and Diluted Loss per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share Disclosure [Line Items]
Net loss– basic and diluted	$ (11,513)	$ (4,867)	$ (6,057)	$ (11,598)	$ (16,380)	$ (17,655)
Weighted-average shares outstanding – basic and diluted	20,545		20,327		20,527	18,474
Basic and diluted loss per common share	$ (0.56)		$ (0.30)		$ (0.80)	$ (0.96)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Loss Per Common Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Stock Options
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Diluted Income Per Common Share	2,147,690	1,990,536	1,882,113	1,938,124

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Examination [Line Items]
Corporate income tax rate	21.00%		21.00%
Income tax examination years description			The Company’s 2015 U.S. Federal income tax return and New York State tax returns for years 2014-2016 remain under audit with no proposed adjustments as of June 30, 2019.
Income tax (provision) benefit	$ (5,795)	$ (1,765)	$ (8,253)	$ (5,575)
Foreign
Income Tax Examination [Line Items]
Effective income tax rate, change in enacted rate			33.80%	23.80%
Domestic
Income Tax Examination [Line Items]
Effective income tax rate			33.60%	22.10%

Business Segments - Additional Information (Detail) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2019 Segment
Segment Reporting Information [Line Items]
Number of reportable business segment \| Segment		2
SKU Rationalization Charged To Cost Of Sales \| $	$ 8.5

Segment Reporting Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 142,536	$ 148,651	$ 292,462	$ 266,820
Loss from operations	(12,545)	(3,301)	(14,832)	(16,617)
Depreciation and amortization	6,290	6,422	12,649	10,731
Assets	822,701		822,701		$ 708,572
Unallocated corporate expenses
Segment Reporting Information [Line Items]
Loss from operations	(4,999)	(5,065)	(10,625)	(9,621)
Assets	21,177		21,177		9,830
Domestic Wholesale [Member]
Segment Reporting Information [Line Items]
Net sales	123,092	128,985	250,130	224,892
Loss from operations	(4,678)	1,968	(292)	(3,572)
Depreciation and amortization	5,210	5,292	10,481	8,439
Assets	684,229		684,229		604,532
International Operations [Member]
Segment Reporting Information [Line Items]
Net sales	19,444	19,666	42,332	41,928
Loss from operations	(2,868)	(204)	(3,915)	(3,424)
Depreciation and amortization	1,080	$ 1,130	2,168	$ 2,292
Assets	$ 117,295		$ 117,295		$ 94,210

Contingencies - Additional Information (Detail) - USD ($) $ in Millions		1 Months Ended
	Dec. 11, 2015	Jul. 19, 2019
Capital cost
Commitments and Contingencies Disclosure [Line Items]
Remedial alternative, EPA preferred remedy	$ 7.3	$ 17.3

Other - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands				6 Months Ended
	Aug. 06, 2019	May 15, 2019	Feb. 15, 2019	Jun. 30, 2019	Jun. 30, 2018
Other [Line Items]
Quarterly dividend declared				$ 0.085	$ 0.085
Cash dividend paid				$ 1,786	$ 1,535
Dividend Declared [Member]
Other [Line Items]
Dividend payable				$ 900
Dividend payable date				Aug. 15, 2019
Dividend Declared [Member] \| Subsequent Event [Member]
Other [Line Items]
Quarterly dividend declared	$ 0.0425
Dividend declared, date of record	Nov. 01, 2019
Dividend declaration date	Aug. 06, 2019
Dividend payable date	Nov. 15, 2019
Dividend Paid [Member]
Other [Line Items]
Cash dividend paid		$ 900	$ 900
Dividend payable				$ 900
Dividend declared, date of record		May 01, 2019	Feb. 01, 2019

Cash Dividends Declared (Detail) - $ / shares	6 Months Ended
Cash Dividends Declared (Detail) - $ / shares	Jun. 30, 2019	Jun. 30, 2018
Dividends Payable [Line Items]
Dividend per share	$ 0.085	$ 0.085
Dividend Payment 1st
Dividends Payable [Line Items]
Dividend per share	$ 0.0425
Date declared	Mar. 12, 2019
Date of record	May 01, 2019
Payment date	May 15, 2019
Dividend Payment 2nd
Dividends Payable [Line Items]
Dividend per share	$ 0.0425
Date declared	Jun. 27, 2019
Date of record	Aug. 01, 2019
Payment date	Aug. 15, 2019

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 9,066	$ 5,614
Cash paid for taxes	993	2,763
Non-cash investing activities:
Translation loss adjustment	$ (1,647)	$ (2,109)

Components of Accumulated Other Comprehensive Loss, Net (Detail) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2019

Mar. 31, 2019

Jun. 30, 2018

Jun. 30, 2019

Jun. 30, 2018

Accumulated Other Comprehensive Income (Loss) [Line Items]

Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax

$ 276,311

$ 279,493

$ 277,741

$ 279,493

$ 210,279

982

596

(263)

1,578

(277)

Accumulated translation adjustment:

263,104

276,311

265,839

263,104

265,839

Accumulated Other Comprehensive Income (Loss) [Line Items]

Other Comprehensive Income (Loss), before Reclassifications, Net of Tax

(32,421)

(33,727)

(24,441)

(33,727)

(27,821)

(2,953)

(5,489)

(1,647)

(2,109)

Accumulated deferred gains (losses) on cash flow hedges:

(35,374)

(32,421)

(29,930)

(35,374)

(29,930)

Accumulated Other Comprehensive Income (Loss) [Line Items]

Amounts reclassified from accumulated other comprehensive loss

757

161

(52)

(23)

(14)

Change in unrealized gains (losses)

1,034

(263)

1,601

(263)

Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax

982

(263)

1,578

(277)

Accumulated effect of retirement benefit obligations:

1,739

757

(263)

1,739

(263)

Accumulated Other Comprehensive Income (Loss) [Line Items]

Amounts reclassified from accumulated other comprehensive loss

(1,037)

(1,050)

(1,500)

(1,050)

(1,518)

^[1]

Accumulated Other Comprehensive Income

(1,025)

(1,037)

(1,483)

(1,025)

(1,483)

Accumulated Other Comprehensive Income (Loss) [Line Items]

Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax

(32,701)

(34,616)

(25,941)

(34,616)

(29,325)

982

596